Brexit

The decision of the British people to leave the European Union by means of Brexit vote in June has not been so great for the country. Britain has enjoyed innumerable trade benefits as a part of the European Union. The biggest threat to the UK is the possibility of losing its access to the single market. To break away from the European Union, Britain must repeal all direct and indirect European Union laws. The loss of access to the single market could have serious repercussions and this has resulted in the weakening of the Sterling in the past few weeks.

In an interview with Times of London, Donald Trump has rekindled hopes in the minds of Brexiteers. Some of the officials of the UK government are in favor of Brexit while others are against it. Many economic experts say that hard Brexit is imminent, but it won’t be favorable for the British government. Amidst all these insecure emotions, Donald Trump has shared some positive news about new trade deals between the US and the UK. Trump commented that Brexit is going to be a good thing because the USA is looking forward to making new trade deals with the UK.

Trump said in the interview with Michael Gove that USA will quickly make a trading deal with the UK as soon as the UK leaves the bloc. He admitted that he is a big fan of the UK and he wants the deal to be completed quickly and properly. This is great news for Brexiteers because losing access to the single market may not be the end of trading in the UK after all. Until now, the European Union had a better hand at the Brexit deal because Britain was set to lose more as a result of Brexit. However, support from the USA could mean a whole lot of possibilities for the UK.

According to Trump, Theresa May had written to him asking for a meeting after he gets into the White House. Trump said that he wants to get something done quickly with the UK as soon as he assumes office. President Obama commented earlier that Brexit will push the UK to the back of the queue. However, Trump has a different opinion.

Even if Donald Trump is enthusiastic about arranging a quick deal between the USA and the UK, it is not possible at the moment. Britain can’t sign a formal trading deal until it leaves EU completely. Brexit negotiations will take at least a couple of years and this means that new deal won’t materialize sooner as expected. The spokeswoman for the Prime Minister said that Britain is happy about the emotion and energy of Trump, it will not take measures to sign a free trade agreement while still being a part of the European Union. Trump’s comments will strengthen the hands of Britain as it enters the long process of Brexit negotiations. In her speech, Theresa May is expected to give the details of Brexit plan.